--- title: "Elevance Health: Metrics Guide" description: "Elevance Health revenue, margins, cash flow and balance sheet figures by fiscal year, taken from its SEC filings, with the ratios computed and explained." canonical: https://www.getswoopr.com/stocks/companies/elevance-health/metrics/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Elevance Health: Financial & Operating Metrics Guide ## Direct Answer Elevance Health reported revenue of $199 billion for the fiscal year ended December 31, 2025, with an operating margin of 3.6% and net income of $5.7 billion, according to its SEC filings. Revenue grew 12.5% from the prior year. ## What Are Elevance Health's Key Financial Figures? | Fiscal year | FY2025ended December 31, 2025 | FY2024ended December 31, 2024 | FY2023ended December 31, 2023 | FY2022ended December 31, 2022 | | --- | --- | --- | --- | --- | | Revenue | $199 billion | $177 billion | $171 billion | $157 billion | | Operating income | $7.2 billion | $7.9 billion | $8.5 billion | $8.3 billion | | Operating margin | 3.6% | 4.4% | 5.0% | 5.3% | | Net income | $5.7 billion | $6.0 billion | $6.0 billion | $5.9 billion | | Net margin | 2.8% | 3.4% | 3.5% | 3.8% | | Operating cash flow | $4.3 billion | $5.8 billion | $8.1 billion | $8.4 billion | | Capital expenditures | $1.1 billion | $1.3 billion | $1.3 billion | $1.2 billion | | Free cash flow | $3.2 billion | $4.6 billion | $6.8 billion | $7.2 billion | Operating margin narrowed by 0.8 percentage points between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was $3.2 billion against net income of $5.7 billion; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement. ![Bar chart of Elevance Health revenue, operating income, net income for fiscal 2022 to 2025. In fiscal 2025, revenue was $199 billion, operating income $7.2 billion and net income $5.7 billion.](https://www.getswoopr.com/images/charts/elevance-health-metrics-revenue-profit.webp) *Elevance Health revenue, operating income and net income by fiscal year, from the figures in the table above. Select the chart to open it full size.* ![Line chart of Elevance Health operating margin and net margin for fiscal 2022 to 2025. In fiscal 2025, operating margin was 3.6% and net margin was 2.8%.](https://www.getswoopr.com/images/charts/elevance-health-metrics-margins.webp) *Elevance Health operating margin and net margin by fiscal year: operating income and net income as a share of revenue. Select the chart to open it full size.* ![Bar chart of Elevance Health operating cash flow, capital expenditures, free cash flow for fiscal 2022 to 2025. In fiscal 2025, operating cash flow was $4.3 billion, capital expenditures was $1.1 billion, free cash flow was $3.2 billion.](https://www.getswoopr.com/images/charts/elevance-health-metrics-cash-flow.webp) *Elevance Health operating cash flow, capital expenditures and free cash flow by fiscal year. Select the chart to open it full size.* ## What Does Elevance Health's Balance Sheet Show? | Cash and cash equivalents | $9.5 billion | | --- | --- | | Long-term debt | $30.8 billion | | Total assets | $121 billion | | Total liabilities | $77.5 billion | | Shareholders' equity | $43.9 billion | | Current ratio | 1.5x | Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions. ## Where These Numbers Come From Every figure on this page is a value Elevance Health reported in its own SEC filings, read from the SEC's XBRL data (accession 0001156039-26-000013 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 7, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary. Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What was Elevance Health's revenue in fiscal 2025? Elevance Health reported revenue of $199 billion for the fiscal year ended December 31, 2025, according to its SEC filings. ### What is Elevance Health's operating margin? Elevance Health's operating margin was 3.6% in fiscal 2025: operating income of $7.2 billion on revenue of $199 billion. ### How much free cash flow did Elevance Health generate? Operating cash flow of $4.3 billion less capital expenditures of $1.1 billion gives free cash flow of $3.2 billion for fiscal 2025. ## References - [SEC EDGAR: Elevance Health, Inc. Form 10-K filed February 6, 2026](https://www.sec.gov/Archives/edgar/data/1156039/000115603926000013/elv-20251231.htm) - [SEC EDGAR: Elevance Health, Inc. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1156039&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) ## Related Pages - [Elevance Health company dossier](https://www.getswoopr.com/stocks/companies/elevance-health/) - [Elevance Health financial metrics](https://www.getswoopr.com/stocks/companies/elevance-health/metrics/) - [Elevance Health financial risk indicators](https://www.getswoopr.com/stocks/companies/elevance-health/risks/) - [Elevance Health peer comparison](https://www.getswoopr.com/stocks/companies/elevance-health/competitors/) - [Elevance Health business model and revenue mix](https://www.getswoopr.com/stocks/companies/elevance-health/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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